- Marks & Spencer, steam locomotives and Harry Ramsden’s are the best things ever to come out of Leeds, according to locals
- Santander UK research highlights importance of international trade to Yorkshire and the Humber companies – 42% currently trade internationally and 87% of these say it is critical to business
- Yorkshire and the Humber companies reveal what it takes to make it overseas, including top tips for international success
- UtterBerry, which is building a new Innovation and Manufacturing hub in Leeds, shares its experience of taking its business international
Marks & Spencer (M&S), steam locomotives and Harry Ramsden’s have topped the list of the best things ever to come out of Leeds, according to local residents.
In new research by Santander UK1, residents local to Leeds have named the top ten things to come out of the city as:
1. Marks & Spencer (M&S)
2. Steam locomotives
3. Harry Ramsden’s
4. The first ever film footage
5. Automated traffic lights
6. Emmerdale
7. Chippendale furniture
8. Cluedo
9. Nicola Adams
10. Mel B
Many of these things have put Leeds on the global map, being well known, well used and much-loved in countries spanning the globe. Just as people from Leeds are proud of their city’s greatest exports, Brits throughout the UK are pleased with what the nation has given the world. Santander UK’s research2 has found that 82% of Brits think some of the best things in the world have originated in Britain.
As well as being a source of pride, British exports play a significant role in the day-to-day success of UK companies. Santander UK’s research3 shows that many businesses in Leeds and the wider Yorkshire and the Humber region see international trade as vital. In Yorkshire and the Humber, 42% of companies surveyed currently trade internationally, and 87% of these said it was critical to their business. The most-cited countries they trade in are France (44%), the USA (41%), and Australia (32%). But international success doesn’t happen by chance.
John Carroll, Head of International and Transactional Banking, Santander UK said: “A lot of research, hard work, perseverance, and adaptation go into transforming home-grown British goods and services into exports that resonate with consumers abroad and take off internationally. It also pays to have the right contacts in place - be they in-country retailers or distributors - to make sure UK-produced products and services have visibility overseas and get into the hands of buyers quickly and efficiently.”
The most common adaptations and measures Yorkshire and the Humber businesses have undertaken to ensure their success overseas are:
- Increased their social media presence (34%).
- Worked with an in-country partner or distributer (29%).
- Hired local staff (29%).
- Introduced new products or services (24%).
- Offered more products or services (24%).
It isn’t all plain sailing, as local businesses worked hard to overcome the common challenges of obtaining market intelligence on their sector (29%), extra costs (29%), and shipping and transport costs (24%).
Of the Yorkshire and the Humber companies that don’t currently trade overseas, the reasons behind this are the belief that their business is too small (39%) and that their products and services are unsuitable for an overseas market (19%). Despite this, 46% of these businesses aspire to take their products and services overseas in future. However, only 10% have a plan in place to make this happen. They say education to help understand the process (21%), grants (21%) and less red tape (21%) would encourage them to take their business international.
Almost half of Yorkshire and the Humber companies are positive about trading abroad, with 48% agreeing ‘the future is bright for British business operating internationally’. Contributing to this optimism are their beliefs that the world is becoming easier to trade in and increasingly opening up business opportunities (51%), freedom from EU regulation (46%) and the pandemic opening up more opportunities (40%).
Santander UK’s research has also revealed Yorkshire and the Humber business owners’ and decision makers’ top tips for international trade success:
- Have a Plan B (40%).
- Ensure your UK business is doing well first (37%).
- Ensure there’s a market for your product or service before you start (33%).
- Work with a local in-country supplier or distributor (27%).
- Don’t take too big a risk to start with (27%).
Tech firm UtterBerry, which is building its Innovation and Manufacturing hub in Leeds, creating hundreds of new jobs locally, is a homegrown start-up that has been trading internationally from the very outset. The business - a Santander UK client and spin-out from Cambridge University - is known for its AI sensor technology which has been used in the health and sport sectors, and on national infrastructure projects including Crossrail and Thames Tideway and by London Underground. It has successfully exported its technology globally, with its sensors being deployed on Hong Kong and Singapore’s public transport networks. It is also a certified medical device manufacturer, and its pioneering contactless Covid-19 symptom scanners are FCC (Federal Communications Commission), EMC (Electromagnetic compatibility) and UKCA (UK Conformity Assessed) certified.
UtterBerry Founder and CEO Heba Bevan said: “I’m a big believer in using technology to improve people’s lives and I saw global opportunities for UtterBerry’s artificially intelligent sensing technology from the outset and worked extremely hard to realise them. Our technology is novel and our first step toward trading overseas was to work with the Department for International Trade, which gave us incredible support. Trading abroad has enabled us to deploy our technology in exciting new ways, and key to our success is the expansion of our manufacturing and research and development capabilities to meet global demand, and we’re grateful for the support Santander UK and Leeds City Council have provided us to build our Innovation and Manufacturing hub in Leeds. The UK is a creative and trade-oriented nation with a world-leading finance sector and my advice to companies looking to take their business international is to go for it because, in my experience, the Department for International Trade and Santander UK will be there to support you.”
John Carroll, Head of International and Transactional Banking, Santander UK added: “It’s clear from the research that international trade can play a crucial role in helping Yorkshire and the Humber businesses to emerge from the pandemic and get back to growth and with the right support and partners, these internationally trading businesses can thrive. Later this year, we will be launching a new online platform, where we will share our years of experience and knowledge in one place to help Yorkshire and the Humber businesses with tailored support to find their way when expanding overseas. We’re here to help these businesses with support that goes beyond banking as they navigate the challenges.”
Santander’s international team has dedicated market specialists that have access to extensive local networks and knowledge around the world, and a long track record of helping businesses implement their international growth strategies. This support ranges from working with them to identify new markets, helping them with shipping and logistics options, and organising virtual trade missions to introducing businesses to trusted local partners, potential new customers and vital networks in key destinations. For more information on the international support available, visit: www.santandercb.co.uk/trade-internationally/moving-international-markets
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The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
For more information about the international support Santander UK provides British businesses please visit: www.santandercb.co.uk/trade-internationally/moving-international-markets
For Santander UK’s top tips for UK businesses looking to expand internationally, please visit: www.santanderbreakthrough.co.uk/resources/top-tips-uk-businesses-international-trading-success
For more information about Utterberry please visit: https://utterberry.com/
Notes to Editors
1) Research is drawn from a survey conducted by OnePoll of 100 people whose closest city is Leeds on 14-21 January 2022.
2) Research is drawn from a survey conducted by OnePoll of 2,000 UK adults, nationally representative, on 14-20 January 2022.
3) Research is drawn from a survey conducted by OnePoll of 1,000 UK business owners and decision makers on 14-25 January 2022.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. At 31 December 2021, the bank had around 19,200 employees and serves around 14 million active customers, via a nationwide branch network, telephone, mobile and online banking. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of 2021, Banco Santander had €1.15 trillion in total funds, 153 million customers, of which 25.4 million are loyal and 47.4 million are digital, 9,900 branches and 197,000 employees.